M7,L2, Hamilton and National Finances

The first secretary of state who thought that repaying the full value of all bonds would cheat bondholders who had sold their bonds at low prices

• Thomas Jefferson

• Alexander Hamilton

• John Adams

• George Washington

The first secretary of the U.S. Treasury who wanted to pay the nation’s foreign debt immediately and gradually repay the full value of all bonds

• Thomas Jefferson

• Alexander Hamilton

• John Adams

• George Washington

certificates that represent money

(vocab word)

• national debt

• speculators

• bonds

• warranty

Money owed by the United States

(vocab word)

• national debt

• bonds

• loose construction

• strict construction

People who buy items at low prices in the hope that the value will rise

(vocab word)

• privateers

• federalist

• speculators

• bonders

The national bank

(vocab word)

• Federalist Bank

• electoral college

• Bank of America

• Bank of the United States

The view that the federal government should do only what the Constitution specifically says it can do

(vocab word)

• Pickney's Treaty

• loose construction

• strict construction

• Treaty of Greenville

The view that the federal government can take reasonable actions that the Constitution does not specifically forbid

(vocab word)

• loose construction

• strict construction

• Treaty of Greenville

Which of the following was the BIGGEST economic challenge that Hamilton and the new government faced?

(Pg 250 2nd paragraph)

• printing new money

• creating fair tax laws

• paying off the national debt

• establishing simpler trade laws

As secretary of the treasury, _________created a plan to pay off the national debt that included paying off the foreign debt immediately and gradually repaying the total value of all bonds. 

(pg 250 3rd paragraph)

• Alexander Hamilton

• Thomas Jefferson

• James Madison

• George Washington